Americans see sports prediction markets as gambling, as survey finds growing concern
A new survey reveals most Americans view sports prediction markets as gambling, expressing concerns about their operation and potential risks.Summary
A recent nationwide survey conducted by Morning Consult, commissioned by Gambling Is Not Investing, indicates that a significant majority of Americans perceive sports prediction markets as a form of gambling rather than legitimate investment tools. The poll, which gathered responses from over 15,000 adults, found that 81% consider activity on these markets to be gambling, even when platforms label contracts as “investments.” Concerns are high that consumers, particularly younger users, may misunderstand the risks due to complex terminology like “event contracts” and “futures.” Americans also expressed skepticism about the safeguards in place, with nearly half lacking confidence in the platforms’ consumer protections and a majority worrying about potential insider trading and access by underage individuals. Overwhelming support exists for regulating prediction markets similarly to sportsbooks, including implementing taxes, licensing, age restrictions, and responsible gambling measures.
(Source：Readwrite)